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bushgate: Lay and Bush, Enron/ Bush Admin, Enron Partnerships, Harvard, Britain

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  • smartnews@aol.com
    You not only let Kenny Boy decide who would head the regulatory agency that oversaw Enron, you let him hand-pick the new chairman of the Securities and
    Message 1 of 1 , Feb 1, 2002
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      "You not only let Kenny Boy decide who would head the regulatory agency that
      oversaw Enron, you let him hand-pick the new chairman of the Securities and
      Exchange Commission, Harvey Pitt -- a former lawyer for his accountant,
      Arthur Andersen! Kenny and the boys at Andersen also worked to make sure that
      accounting firms would be exempt from numerous regulations and would not be
      held liable for any "funny bookkeeping" ....Kenny Boy has been your number
      one financial backer since you ran for governor. No other American or Saudi
      has given you more money than Kenny Boy and his gang at Enron."

      "At least three top White House advisers involved in drafting President
      Bush's energy strategy held stock in the Enron Corporation or earned fees
      from the large Texas-based energy trading company, which lobbied aggressively
      to shape the administration's approach to energy issues."

      "An estimated 3,000 partnerships, some with names of "Star Wars" characters
      such as Jedi, were created by Enron -- which took a 97 percent stake in each
      of them and brought in outside investors for the remainder. The partnerships
      were kept off Enron's books and helped create the accounting debacle that
      pushed the company into the biggest U.S. corporate bankruptcy ever on Dec.
      2."

      http://www.michaelmoore.com/2002_0129.html
      01/29/2002

      "George W. in the Garden of Gethsemane"
      An Open Letter to George W. Bush from Michael Moore

      You needed a way to fly around to all the primaries and campaign stops in the
      2000 election -- so Kenny gave you his corporate jet. Did you tell the voters
      when you arrived in each city that the bird you flew in on was from a
      billionaire who was secretly conspiring to give the bird to all his employees
      and investors? He flew you around America on the Enron company jet, and for
      that favor you touched down on tarmac after tarmac to tell your fellow
      citizens that you were "going to restore dignity to the White House, the
      people's house." You said this standing in front of an Enron jet!
      Man, you loved Lay so much, you not only affectionately referred to him as
      "Kenny Boy," you interrupted an important campaign trip in April, 2000, to
      fly back to Houston for the Astros opening day at the new Enron Field -- just
      so you could watch Kenny Boy Lay throw out the first pitch.....when you were
      awarded a set of keys the Supreme Court had made for you so you could live in
      the White House, you invited Kenny Boy to set up shop -- at 1600 Pennsylvania
      Avenue! He interviewed those who would hold high-level Energy Department
      positions in your administration. You not only let Kenny Boy decide who
      would head the regulatory agency that oversaw Enron, you let him hand-pick
      the new chairman of the Securities and Exchange Commission, Harvey Pitt -- a
      former lawyer for his accountant, Arthur Andersen! Kenny and the boys at
      Andersen also worked to make sure that accounting firms would be exempt from
      numerous regulations and would not be held liable for any "funny bookkeeping"
      (don't you wish you were this forward-thinking?).....Kenny Boy has been your
      number one financial backer since you ran for governor. No other American or
      Saudi has given you more money than Kenny Boy and his gang at Enron.
      O'Neill, Evans, Cheney, Energy Secretary Spencer Abraham -- ALL of them gave
      Lay and Enron special favors from day one. The New York Times
      last May was so concerned about how Kenny had the run of the place (1600
      Pennsylvania Ave.), they referred to Lay as the "shadow advisor to the
      president."

      http://www.nytimes.com/2001/06/03/politics/03DISC.html

      June 3, 2001 - Bush Advisers on Energy Report Ties to Industry - By JOSEPH
      KAHN

      WASHINGTON, June 2 — At least three top White House advisers involved in
      drafting President Bush's energy strategy held stock in the Enron Corporation
      or earned fees from the large Texas-based energy trading company, which
      lobbied aggressively to shape the administration's approach to energy issues.
      Karl Rove, Mr. Bush's chief political strategist; Lawrence B. Lindsey, the
      top economic coordinator; and I. Lewis Libby, Vice President Dick Cheney's
      chief of staff, all said in financial disclosure statement released on Friday
      that they already had or intended to divest themselves of holdings in Enron,
      the nation's leading trader and marketer of electricity and natural gas, as
      well as holdings in other energy companies. Mr. Lindsey received $50,000 last
      year from Enron for consulting. Mr. Rove's statement said he intended to sell
      stock holdings in Enron valued at $100,000 to $250,000, though the statement
      does not make clear if he has completed the sale. Mr. Libby sold his stake in
      the company.

      http://www.truthout.com/02.01A.Sen.Enron.No.htm

      January 31, 2002 Senator Says Enron Not Cooperating With Investigation
      By THE ASSOCIATED PRESS Filed at 3:43 p.m. ET

      WASHINGTON (AP) -- Enron Corp. has failed to provide a Senate committee with
      important information about a web of partnerships used to conceal massive
      debts, a senator leading an investigation said Thursday. Enron officials
      "just simply have not cooperated" in providing the documents sought, said
      Byron Dorgan, D-N.D., chairman of a Senate Commerce subcommittee. "We again
      renew our request." An estimated 3,000 partnerships, some with names of
      "Star Wars" characters such as Jedi, were created by Enron -- which took a 97
      percent stake in each of them and brought in outside investors for the
      remainder. The partnerships were kept off Enron's books and helped create the
      accounting debacle that pushed the company into the biggest U.S. corporate
      bankruptcy ever on Dec. 2.

      http://www.ireland.com/newspaper/world/2002/0201/455622448FR01WAKEHAM.
      html

      UK press watchdog quits over Enron - By Rachel Donnelly -
      BRITAIN: The multi-million dollar collapse of US energy company,
      Enron,claimed a high-profile British casualty yesterday when Lord Wakeham
      temporarily stepped down as chairman of the Press Complaints Commission
      (PCC). Although Lord Wakeham, a non-executive director at Enron for eight
      years, described his decision as a "matter of honour" while a US
      Congressional committee investigated the company's spectacular demise,
      pressure had been mounting within political and trades union circles for him
      to leave the PCC. After a stint as energy secretary under the Tories, Lord
      Wakeham went on to join Enron's board of directors - with a reported annual
      salary of £80,000 - and sat on its six-member audit and compliance committee.
      The committee operated as a watchdog over Enron's accountants and was charged
      with protecting the interests of shareholders before the company went
      bankrupt last December with debts of £55 billion, prompting one US union to
      declare that Lord Wakeham was "not fit to be a steward of investors' money".

      http://www.harvardwatch.org/

      TRADING TRUTH: A REPORT ON HARVARD'S ENRON ENTANGLEMENTS
      (Summary and Recommendations) A HARVARDWATCH REPORT January 31, 2002
      SUMMARY OF FINDINGS
      QUESTIONABLE FINANCIAL TRANSACTIONS AND INTERLOCKING
      DIRECTORATES
      Herbert "Pug" Winokur is a member of the Harvard Corporation, the university's
      seven-member self-selecting governing body, and a longtime member of the
      Board of
      Directors at Enron Corporation. He is currently the chair of the board's
      Finance
      Committee. In this capacity Winokur reportedly approved the creation of more
      than
      3,000 partnerships and subsidiaries which were allegedly used by Enron to
      hide debt
      and avoid taxation. Winokur's position on the board's Finance Committee gave
      him
      unique access to Enron's financial structure and should have alerted him to
      the
      company's imminent collapse. During the period in which Enron executives
      touted the company's stock to employees, Harvard's main private investment
      fund — Highfields Capital —short-sold
      several million shares of Enron stock for an estimated profit of $50 million.
      Mr. Winokur's leadership positions at Enron and Harvard raise questions
      regarding Highfields' massive short-selling transactions, which benefited the
      Harvard endowment. There has been insufficient investigation into the
      possibility that Highfields operated with inside information when it
      short-sold millions of Enron shares.
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